Adam Evans

Senior Vice President, Hilco Global

40 Under 40 Category: Liquidation/ Appraisal/ Auctioneer

Biography:

Adam Evans is a senior vice president for Hilco Global, based in Chicago, and is responsible for business development at Hilco Valuation Services in the Eastern United States and Canada.  Adam joined Hilco in 2001 as an industrial appraiser focusing on machinery and equipment.  In 2005, Adam moved into a business development role managing the Western and Southwestern United States before he began covering the Midwest in 2011.  In 2015, Adam took over business development responsibilities for the Canadian market, and in 2017, transitioned from the Midwest market to focus on covering the Eastern Region and Canada.  A native of Southern California, Adams currently lives in Chicago, enjoys anything having to do with the outdoors and spending time with his daughter (Abbi, 10) and son (Parker, 6).

What is the best professional advice you have been given and how have you implemented it?

I have been lucky enough to work with some extremely intelligent, driven and talented people during my career at Hilco.  When thinking about this question, I found it impossible to decide on one pearl of wisdom I have received from a mentor, friend or colleague as they have all been influential.  Instead, I would like to focus on an overarching theme in the professional advice I have received, and that theme is change.  More importantly, how one reacts to and deals with change.  It is easy and comfortable to remain in the status quo; you learn how to complete tasks, know what is expected, rarely are challenged and end up on autopilot.  As easy and carefree as this sounds, no one wants to work at a company that doesn’t change--it’s boring, not stimulating and offers zero real chance for advancement or professional development.  In my work career I have moved across the country multiple times. Each move not only resulted in a change of geography but also a change of responsibilities and new client relationships to establish.  I am lucky enough to work for the same company for virtually my entire professional career and the reason I am still here and love what I do is because of change.  When I am asked to take on a challenge or make a major change, I have said yes, albeit not always immediately: but, after some careful reflection, I say yes.  If you were to ask any of my current or former managers about what my initial reaction is to change, there would be furrowed brows and probably some laughs on remembering my reactions.  But hopefully they would agree that I have listened and ultimately accepted and embraced the changes.  This advice I struggle to implement daily, but what I try to do is fully understand the change, look for the opportunities to use the change to grow and realize that there are going to be struggles that make me question the decision.

How do you think the commercial finance industry can attract more young professionals?

The commercial finance community could do a better job attracting young professionals by educating and showcasing the variety of career options related to and servicing commercial finance.  Starting at the college level, have not only lenders but also service providers and industry groups exhibiting at career fairs, participating and adapting finance curriculum to show a more complete picture of the modern commercial finance landscape.  Encourage lending institutions to implement or maintain a rotational program that covers in-depth commercial finance, factoring and asset-based lending.  I think, as a community, we have moved well past the “lender of last resort” stigma that once plagued asset- based lending and now we have to show the next generation that it is a career path with plenty of rewarding options.  At Hilco Valuation Services we have several programs to attract and, most importantly, keep younger talent.  One such program is for our machinery and equipment appraisal group which traditionally had been an industry where appraisers were the children or relatives of other appraisers, liquidators or machinery dealers.  What we have done is created a mentorship program where younger M&E appraisers work alongside experienced appraisers in a shared best-practices model.  Utilizing newer technology, both hardware and software, we are effectively disseminating the knowledge of the experienced staff and putting it in a format more recognizable and accessible to younger appraisal professionals.